Announcing his successor, Ferguson, who will join the United board this summer, said: "When we discussed the candidates that we felt had the right attributes we unanimously agreed on David Moyes.

"David is a man of great integrity with a strong work ethic. I've admired his work for a long time and approached him as far back as 1998 to discuss the position of assistant manager here.

"He was a young man then at the start of his career and has since gone on to do a magnificent job at Everton. There is no question he has all the qualities we expect of a manager at this club.”

Moyes, who has been in charge of Everton since 2002, will lead the Merseyside club for their remaining two games of the season before starting work at United.

"It's a great honour to be asked to be the next manager of Manchester United," said Moyes.

"I am delighted that Sir Alex saw fit to recommend me for the job. I have great respect for everything he has done and for the football club.

"I know how hard it will be to follow the best manager ever, but the opportunity to manage Manchester United isn't something that comes around very often and I'm really looking forward to taking up the post next season.

"I have had a terrific job at Everton, with a tremendous chairman and board of directors and a great set of players," he added.

"Between now and the end of the season, I will do everything in my power to make sure we finish as high as possible in the table.

"Everton's fantastic fans have played a big part in making my years at Goodison so enjoyable and I thank them wholeheartedly for the support they have given me and the players. Everton will be close to me for the rest of my life."

United director and former club captain Sir Bobby Charlton added: "I have always said that we wanted the next manager to be a genuine Manchester United man. In David Moyes, we have someone who understands the things that make this such a special club.

"We have secured a man who is committed to the long-term and will build teams for the future as well as now. Stability breeds success.

"David has tremendous strength of character and recognises the importance of bringing young players through and developing them alongside world class talent.

"At United, I think David will be able to express himself. I am delighted he has accepted and I'm looking forward to working with him."

Quote:

I know how hard it will be to follow the best manager ever, but the opportunity to manage Manchester United isn't something that comes around very often